The financial reform bill made it through the first Republican filibuster last week and is being debated and amended now on the Senate floor. Regulating Wall Street isn't easy, though, and economics journalist Zach Carter has noted that the proposed reforms are "pretty flimsy"--he uncovered a loophole that allows banks to continue to make illegal trades without punishment!
Zach joins us via Skype from Virginia to discuss the financial reform bill and to explain in plain language just why derivatives continue to be so scary.
GRITtv with Laura Flanders brings participatory democracy onto your computer screen and into your living room, bridging the gap between audience and advocates. Watch any show, at any time: http://grittv.org Distributed by Tubemogul.